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Barchart
Barchart
Rich Asplund

Sugar Prices Pressured by an Improved Supply Outlook

India Brazil Ethanol London NY ISO Thailand the Indian Sugar and Bioenergy Manufacturers Association Unica USDA

March NY world sugar #11 (SBH25) today is down -0.12 (-0.66%), and March London ICE white sugar #5 (SWH25) is down -0.20 (-0.04%).

Sugar prices today are moderately lower on an improved global supply outlook.  Over the past three months, sugar prices have been trending lower.  On Tuesday, NY sugar posted a 3-1/2 month nearest-futures low, and on Monday, London sugar posted a 2-3/4 year low.   On November 21, the International Sugar Organization (ISO) reduced its 2024/25 global sugar deficit forecast to -2.51 MMT, compared to an August forecast of -3.58 MMT.  ISO also raised its 2023/24 global sugar surplus estimate to 1.31 MMT from an August projection of +200,000 MT.  

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